Nowadays, card and account details are mostly stolen by phishing scams. The fake websites resembling the original bank websites persuade visitors to enter their account details. Beware of many sites that come up with a ‘how to make money online’ package and have you opt in with a promise of a full return if you don’t find the information valuable. Such sites are always prepared to refund your money at your request. The problem is, they will sell your account details, but not until they have tested it first.
How do they test a card?
That is simple. They make a donation that is small enough to pass through the anti-fraud radar without raising an alarm. It is important to alert the authorities whenever your credit card makes any unauthorized donation or payment, no matter how small or negligible it is.
Should I give out my PIN, or CVV2?
No reputable online shop would ask you for your credit card PIN, secret number, banking password, or any bank account details. This is because your card’s pin and CVV2 can be used by fraudsters to make direct withdraws of cash. Some sites store the CVV2 even after the transaction is completed. This is illegal. Your CVV2 can get into the wrong hands should the site be attacked. To check to see that your CVV2 was deleted after the transaction ended, try to make a purchase again. If you are not allowed to add the CVV2 yourself or the CVV2 is filled in already, there is a problem.
I have stopped receiving credit card details, is that a problem?
Credit card companies always raise suspicion when a purchase is made to an address not registered with a card. However, it can be a different story if hackers are able to get a hold of your CVV2. With the CVV2, they can change the address. Make sure to contact your bank or credit card company the minute you stop receiving credit card details.
What about 3D secure sites, should I buy only from them?
Forget about the ‘3D Secure’ verification systems that claim to reduce credit card theft. It is only protecting the bankers. The ‘’Verified by VISA” or any other descriptions of this kind you see on some sales Web sites are just formalities. Nothing is wrong with a site that is taking part in this verification system. However, this system can’t make you more secure.
How do I secure my computer for online shopping?
It is good to have a designated computer for online banking transactions and for online payments. In addition,Always have a good and up-to-date anti-virus and anti-spyware . To be on the safer side, don’t click on links in an email from unknown sources, do not download any freebies, and do not visit adult sites on this designated computer.